Wellington Financial LP, a privately-held specialty finance firm, today announced a US$11 million venture debt financing for Operative Media of New York. Operative helps media companies like WSJ, The Weather Company, MSN.com, Daily Mail Group, Bauer Media and Comcast manage their digital ad business. From cloud-based software to outsourced ad operations support, Operative empowers media companies to package, sell, traffic, and collect more revenue on advertising products.
"Operative provides a market leading solution to its clients which brings together critical business processes and systems necessary to maximize advertising revenue. With US$6 billion in global ad revenue flowing through Operative's platform annually, they are a high growth company with more than 200 clients globally. We are delighted to add them to our portfolio," said Craig Netterfield, Partner of Wellington Financial.
Lorne Brown, Chief Executive Officer of Operative Media said, "We are pleased to work with Wellington Financial. This financing is a testimony to the operational expertise we've acquired over the last 14 years. We create solutions that bring people, processes and technology together to make advertising businesses leaner and more scalable for publishers. With Wellington's financial support we will continue to enhance our platform, expand global operations and develop new offerings for publishers."
Operative Media is backed by leading venture capital firm Edison Ventures, and is the sixth Edison-backed company to tap Wellington Financial for growth capital.
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